Good & Bad of Running a Sari Sari store business in the Philippines

Рет қаралды 2,996

Күн бұрын

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Many expats have the idea of setting up a small convenience store called a sari-sari store. While there are some advantages, there are also some bad ones. At the end of the video, I give a few tips to make your sari-sari store a success.
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Пікірлер: 27

@jocelynjack 10 ай бұрын

Hello, I enjoyed watching this, as I am an accountant and business minded I paid attention to the details of what you are going to say. Your recommendations are on point. Good job! I could assure you some customers might be going to your sari sari store to check you out. I remember when I was growing up, we had an American neighbor, for kids it was a joy seeing him on the streets walking, we always wanted him to notice us by saying, "hi Joe" and once he would say hi to us back, we would laugh. It was one of my childhood memories really with my friends growing up. I would go buy ice from the wife too just to see an American really. I don't know as a kid, I was fascinated seeing an American then because of how they looked like.Truth. Good luck!

@imexpatbill 10 ай бұрын

I try to be nice to everybody, always remembering that I am a guest here. As more expats roll in, some won't give you the time of day. I always laugh when youg girls would come and say hi, "I like your nose". 😆😀

@glennhiggins5425 11 ай бұрын

Nice info, appreciate

@imexpatbill 11 ай бұрын

My pleasure! Thanks for viewing.

@noylottv9451 11 ай бұрын

Wow amazing thank you for sharing watching here from Davao

@imexpatbill 11 ай бұрын

I tried to give both sides of the story. Thanks for viewing.

@roberthertel5565 10 ай бұрын

Not speaking from experience but have heard that oftentimes locals will want to 'buy' on credit and if you don't let them do that they simply go to the sari-sari store right next to you :) IF you do extend credit disagreements eventually happen as to how much those customers owe - so to me that would be another potential downside to that business. Hopefully what I've heard is wrong. There are of course good things about the business as you pointed out in the video and agree that best to think of it as a side hustle. Thanks for the video sir !

@imexpatbill 10 ай бұрын

You are right we had one guy who always wanted to drink beer on credit, then the next day he would hit up another sari sari down the road for credit. A week goes by, he pays off the first debt then immediately wants credit, eventually he gets blacklisted from the local stores so he finally he went into a bar, started drinking then had no money to pay them, he got a beating from that.

@KrayPurn 11 ай бұрын

I am focused on ensuring that my household expenses are less than $100.00 then I will focus on building a 12 piece apartment rental with rents set at 5k pesos to being in 60k. Then I will focus on a glass and tile business to include a water filtration system pickup and delivery service via e-cart all solar-powered.

@imexpatbill 11 ай бұрын

What that's a lot of businesses, good luck. Would love to see some videos of your startups.

@ReubenMoore67 10 ай бұрын

If you are going to start a business in the Philippines, it is important to have a moat. Otherwise, six competitors will pop up and drive your margins to zero. Two obvious moats are a skill that others do not have and/or a startup cost that others cannot meet. A sari-sari store has neither of these. Also: if you purchase a product for eight pesos and sell it for nine pesos, that is not a profit. I have yet to meet one Filipino who understands this.

@imexpatbill 10 ай бұрын

Yes copying your business is guaranteed and your are right about the sari sari store.

@tomsewell2462 10 ай бұрын

LOL. The good; it gets your wife to shut up and go away for awhile. Bad= you lose money every day.

@imexpatbill 10 ай бұрын

You really don't lose money, as you can always eat the stocks, you just don't make enough money.

@answerman9933 10 ай бұрын

Where does one by the stocks for the stores?

@imexpatbill 10 ай бұрын

There really isn't a whole sale store per say but there are places where the buying multiple of same items is cheaper.

@pinzgauernorcal 10 ай бұрын

where do you get the items to sell?

@imexpatbill 10 ай бұрын

There are certain stores that sell quantities cheaper but in general the prices are pretty much the same. As a sari sari store owner, you are constantly on the look out for sales and bogo's (buy one -take one).

@inuhyasha2662 10 ай бұрын

You buy in bulk at a cheaper price then you sold in pieces and you put a mark up on every pieces your going to sell. It's a good business at the comfort of your home if you have a good location, and no credit. You wouldn't get rich but surely you wouldn't starve

@mick-berry5331 10 ай бұрын

Sounds like a waste of time to me. This is suited for a stay-home mother as a side hustle or for a grandma. I, as a former businessman and westerner, would rather sell, for instance, sell refurbished iPhones over the internet. Worldwide market, better margins. 😂

@imexpatbill 10 ай бұрын

I think I mentioned it being a side hustle or for an older member of the family, its definitely not a quick get rich gig.